Question 7 Aikman Corporation has the following cost records for June 2020: Indirect factory labour Direct materials used Work in process (6/1/20) Work in process (6/30/20) Finished goods (6/1/20) Finished goods (6/30/20) $4,950 25,500 3,350 3,800 5,100 8,850 Factory utilities Depreciation, factory equipment Direct labour Maintenance, factory equipment Indirect materials $500 1,550 30,200 2,050 2,350 3,000 Factory manager's salary (a) Your answer is correct. Prepare a cost of goods manufactured schedule for June 2020. AIKMAN CORPORATION Cost of Goods Manufactured Schedule For the Month Ended June 30, 2020 Work in Process, June 1 3350 Direct Materials Used 25500 $ Direct Labour 30200 Manufacturing Overhead Indirect Factory Labour 4950 $1 Factory Utilities 500 Depreciation, Factory Equipment v 1550 Factory Utilities 500 Depreciation, Factory Equipment v 1550 w Maintenance, Factory Equipment v 2050 Indirect Materials 2350 Factory Manager's Salary 3000 Total Manufacturing Overhead 14400 Total Manufacturing Costs 70100 Total Cost of Work in Process 73450 Less V Work in Process, June 30 -3800 Cost of Goods Manufactured 69650 (b) Prepare an income statement through gross profit for June 2020, assuming net sales are $89,900. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) AIKMAN CORPORATION Income Statement (Partial) $